Bankruptcy Attorneys Highlight Two Key Third Circuit Decisions

Bankruptcy Attorneys Highlight Two Key Third Circuit Decisions
Two 3rd Circuit Courts Weigh in on Third-Party Releases
October 2016
Stephen B. Ravin; Sharon L. Levine; Dipesh Patel
Journal of Corporate Renewal

Stephen B. Ravin, Sharon L. Levine, and Dipesh Patel co-authored an article in the Journal of Corporate Renewal (JCR), the official publication of the Turnaround Management Association (TMA), outlining two recent decisions from the Third Circuit addressing the issue of third-party releases through a chapter 11 bankruptcy plan.  The article sets forth the current state of the law in approving a debtor's release of third parties, as well as the more complicated aspect of approving non-consensual third party releases.